Hello,
I have a 750k mortgage on my primary resident at a rate of 2%. Which I can deduct the full amount of interest. I am thinking of purchasing a second home. Given the current interest rate, the mortgage interest will probably come out to be 7-8%.
Due to the 750k cap on allowance of mortgage interest deduction. Can I deduct interest from my second mortgage instead of my first mortgage to get the best deduction result?
